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<br />RE- RECORDED87"- x.03387
<br />M7RTGAGE 87-- 103154
<br />MORTGAGE LOAN NO. L
<br />IOW ALL MEN BY 1IIESE PRESENTS: That John A. Spencer and Rebecca A. Spencer, each in his and
<br />her own right and as spouse of each other, Mortgagor, whether one or more, in consideration of the sum of
<br />Thirty —Dwo Thousand and no/ 10 0---------------- ------------------- °- - -__—. -- -- - - - --
<br />DOLLARS
<br />band to said mortgagor by The Equitable Building and Loan Association of Grand Island, Nebraska, Mortgagee, upon 320 shares of stock of
<br />said ASSOCIATION, Certificate No. L , do hereby grant, convey and mortgage unto the acid ASSOCIATION the following
<br />described real estate, situated in Hall County, Nebraska:
<br />Lot Six (6), Whites Surety Slopes Subdivision, Hall County, Nebraska,
<br />together with all the tenements, hereditaments and appurtenances thereunto belonging, including attached floor coverings, all window screens,
<br />window shades, blinds, storm windows, awnings, bating, air conditioning, and plumbing and water equipment and accessories thereto, pumps,stoves,
<br />refrigerators, and other futures and equipment now or hereafter attached to or used in connection with said real estate.
<br />And whereas the said mortgagor has agreed and does hereby agree that the mortgagor shall and will pay ad taxes and assessments levied or
<br />assessed upon said premises and upon this mortgage and the bond secured thereby before the same shall become delinquent; to furnish approved
<br />insurance upon the buildings on said premises situated in the sum of S 32 000.00 payable to said ASSOCIATION and to deliver to said
<br />ASSOCIATION the policies ,or said insurance; and not to commit or perm( any waste on or about said premises;
<br />In can of default in the performance of any of the terms and conditions of this mortgage or the bond secured hereby, the mortgagee stud,
<br />on demand, be entitled to immediate possession of the mortgaged premises and the mortgagor hereby assigns, transfers and sets over to the
<br />mortgagee all the rents, revenues and income to be derived from the mortgaged premises during such time as the mortgage indebtedness shall remain
<br />unpaid; and the mortgagee shall have the puwer to appoint any agent or agents it may desire for the purpose of repairing said premises and renting
<br />the same and collecting the rents, revenues and income, and it may pay out of said income all expenses of repairing said premises and necessary
<br />commission and expenses incurred in renting and managing the same and of collecting rentals therefrom; the balance remaining, if any, to be
<br />applied toward the discharge of said mortgage indebtedness; these rights of the mortgagee may be exercised at any time during the existence of such
<br />default, irrespective of any temporary waiver of the same.
<br />These Presents, however, are upon the Condition, That if the said Mortgagor shall repay said loan on or before the maturity of said shares by
<br />payment; pay monthly to said ASSOCIATION of the sum specified in the Bond secured hereby as interest and principal on said loan, on or before
<br />the Twentieth day of each and every month, until said loan it fully paid; pay all taxes and assessments levied against said premises and on this Mortgage
<br />and the Bond secured thereby, before delinquency; furnish approved insurance upon the buildings thereon in the stun of S 32, 000.00 payable
<br />to said ASSOCIATION; repay to said ASSOCIATION upon demand all money by it paid for such taxes, assessments and insurance with interest at
<br />the maximum legal rate thereon from date of payment all of which Mortgagor hereby agrees to pay; permit no waste on said premise; keep and comply
<br />with all the agreements and conditions of the Bond for S 3 �, 000.00 this day given by the said Mortgagor to said ASSOCIATION, and comply
<br />with all the requirements of the Constitution and By -Laws o. said ASSOCIATION; then these presents shall become null and void, otherwise they
<br />shall remain in full force and may be foreclosed at the option of the said ASSOCIATION after failure for three months to nuke any of said
<br />payments or be three months in arrears in making said monthly payments, or to keep and comply with the agreements and conditions of said Bond;
<br />and Mortgagor agrees to have a receiver appointed forthwith in such foreclosure proceedings.
<br />If there is any change in ownership of the real estate mortgaged herein, by sale or otherwise, then the entire remaining indebtedness hereby
<br />seemed shad, at the option of The Equitable Building and Loan Association of Grand Island, Nebraska, become immediately due and payable without
<br />farther notice, and the amount remaining due under said bond, and any other bond for any additional advances made thereunder, shad, from the
<br />;late of exercise of said option, bear interest at the maximum legal rate, and this mortgage may then be foreclosed to satisfy the amount due on said
<br />bond,and any other bond for additional advances, together with all sums paid by said The Equitable Budding and Loan Association of Grand Island,
<br />Nebraska for insuranc, taxes and assessments, and abstracting extension charges, with interest thereon, from date of payment at the maximum
<br />legal rate.
<br />As provided in the Bond secured hereby, while this mortgage remains in effect the mortgagee may hereafter advance additional sums to the
<br />makers of said Bond, their assign or successors in interest, which sums shall be within the security of this mortgage the same as the funds originally
<br />secured thereby, the total amount of principal debt not to exceed at any time the original amount of this mortgage.
<br />Dated this 29th day of May A. D., 19 $7
<br />Spea
<br />a A. Spencer
<br />STATE OF NEBRASKA, I as On this 29th day of May 19 87 , before me,
<br />COUNTY OF IIAL.L
<br />the undersigned, a Notary Public in and for said County, personally came
<br />John A. Spencer and Rebecca A. Spencer, each in his and her own right and as spouse of
<br />,
<br />each other, who are PUfO ly known to
<br />me to be else identical ptcrwn S Whose ;ante v are affixed to the above - ;tune t as mortgagor S and they severally
<br />admowledped the said instrument to be their voluntary act and deed.
<br />WITNV&', my hand and Notarial Seal the date aforesaid -
<br />7
<br />My Cnmmiawn expiry at )
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